Securities litigation - defense in United States
Cahill Gordon & Reindel LLP has a strong standing among investment banks, asset managers and hedge funds, though it also represents many blue-chip corporates in securities litigation. The firm is lead defense counsel for major investment banks including Credit Suisse and Deutsche Bank in high-profile cases. Charles Gilman and David Januszewski acted for Deutsche Bank in a securities fraud class action, in which plaintiffs allege that statements concerning the Bank’s AML procedures and control environment were materially false and misleading. Star partner Herbert Washer represented Credit Suisse in civil litigation arising from alleged manipulation of Libor, in which the firm was praised for 'pursuing some unique theories and clearing many cases with novel thinking'. 'Client service is what counts and the firm responds to clients' needs', says one source. Also recommended are David Wishengrad, up-and-coming partners Sheila Ramesh and Jason Hall, and Washington DC-based regulatory enforcement specialist Bradley Bondi. Unless otherwise stated, lawyers are based in New York.
Cravath, Swaine & Moore LLP in New York has a deep bench of 'hardworking, thoughtful attorneys', who frequently handle complex, high-value and precedent-setting cases. With 24 partners handling securities litigation and enforcement, the team is not among the largest, but it has highly prominent lawyers such as Richard Clary, who is 'someone that other defence lawyers look up to', Antony Ryan and head of litigation Daniel Slifkin. Slifkin, Ryan and regulatory enforcement specialist David Stuart acted for ophthalmic pharmaceutical manufacturer Akorn, Inc in a purported consolidated securities class action and a consolidated derivative action in which plaintiffs sought $150m in damages for alleged misrepresentations by the company concerning its business, operations and internal controls. For the same client, Robert Baron is handling a stock-drop class action arising from an investigation into data integrity issues. Among the other standout partners are Karin DeMasi, who is handling a class action concerning technology company Greensky's IPO; Timothy Cameron; rising star Lauren Moskowitz; and Rachel Skaistis, who handled a stock-drop case for El Pollo Loco.
Davis Polk & Wardwell LLP
Davis Polk & Wardwell LLP maintains its reputation as one of the leading securities litigation firms in the US. Its practice is relatively small compared to some firms, with only 28 partners in the securities litigation group, but in the last ten years its lawyers have appeared in 163 federal cases and secured early dismissals in 109 of those. It acts for a blue-chip client base of corporate issuers, public company boards of directors, underwriters, broker-dealers, investors and other active market participants. James Rouhandeh in New York leads the practice and he acted for Royal Bank of Scotland in several RMBS-related claims, in which he achieved favorable settlements. With Charles Duggan, he defended the underwriters of Facebook's $16bn IPO in multi-district litigation, including a class action that was settled last year for $35m. Other recommended partners in New York include Lawrence Portnoy and Edmund Polubinski, who obtained the dismissal of a class action for Roche Holding; and James Windels, who defended Brazilian power utility Eletrobras. Menlo Park-based Neal Potischman, who led a first-of-kind cryptocurrency securities litigation for Tezos Foundation, is also recommended.
Gibson, Dunn & Crutcher LLP
Gibson, Dunn & Crutcher LLP's securities litigation group has talented partners across the US. The 66-partner practice is led by Meryl Young in Orange County, Robert Serio in New York and Brian Lutz in San Francisco, and it handles major securities class actions for companies such as Facebook, Nike and Zillow, as well as financial institutions such as JP Morgan, UBS and Deutsche Bank. Lutz is playing a lead role in the Facebook case arising from reports of the alleged misuse of user data by Cambridge Analytica and related parties. For Nike, Young and Lutz are defending a shareholder derivative suit linked to media reports regarding the alleged workplace culture at the company and a subsequent employment class action in federal court in Oregon. Securities enforcement specialist Joseph Warin in Washington DC and New York-based Lawrence Zweifach are part of the team defending UBS in numerous benchmark manipulation cases. The firm defeated class certification in a multi-district litigation pending in federal court in Manhattan relating to alleged Libor manipulation .
Latham & Watkins LLP's securities litigation and professional liability group had a successful year in 2018, having handled precedent-setting cases for a growing roster of blue-chip clients, which include Fortune 500 companies, financial institutions and large accounting firms. An example is its work for Apple in a securities class action in which the plaintiffs allege that the company is liable as a 'control person' for allegedly false and misleading statements made by one of its third-party suppliers. Miles Ruthberg and up-and-coming partner Jason Hegt in New York, along with Matthew Rawlinson in Silicon Valley, were the lead lawyers in that case. Rawlinson, Jeff Hammel in New York and Andrew Clubok in Washington DC lead the practice. Veteran litigator James Brandt in New York and Robert Perrin in Los Angeles are representing PG&E in class actions arising from the wildfires in northern California in 2017. The firm's work in the life sciences sector includes defending a class action for biopharmaceuticals company Aratana Therapeutics, in which New York partners Kevin McDonough and Jamie Wine secured a dismissal with prejudice.
Paul, Weiss, Rifkind, Wharton & Garrison LLP is regarded by one client as 'nonpareil - without peer on all criteria'. The firm has an outstanding track record of results for leading financial institutions, corporations and their directors and officers. Last year, it continued to handle the run-off of financial crisis-related cases, which included securing the dismissal of RMBS matters for Citigroup, as well as high-profile cases in key industries such as life sciences, in which it secured the dismissal of four opt-out securities actions brought by institutional investors against global pharmaceutical giant Merck. Daniel Kramer led the Merck cases and clients 'trust his judgment implicitly - he has great, practical business sense complementing unparalleled legal expertise'. Firm chair Brad Karp is 'one of the hardest-working lawyers in the market' and was part of a team that helped Blackstone Alternative Asset Management with a $50bn derivative claim brought against various asset managers by Kentucky's state employee pension system. Richard Rosen, Geoffrey Chepiga and Susanna Buergel and Andrew Ehrlich are just some of the other highly rated partners.
Shearman & Sterling LLP in New York has a securities litigation, investigation and enforcement practice that frequently represents US and non-US financial institutions, corporations, boards of directors, special committees, and individuals in high-stakes matters. Global managing partner and head of litigation Adam Hakki also co-chairs the securities and litigation and enforcement practice. Hakki and Patrick Robbins in San Francisco acted for the underwriters of SunEdison and TerraForm Global in multiple individual and class action lawsuits arising from SunEdison's bankruptcy, alleging 33 Act violations including failure to accurately disclose liquidity issues in the offering of securities. The case was partially dismissed in early 2018. The firm's deep bench of talent in New York includes Richard Schwed, who, with Hakki, secured the dismissal with prejudice of claims against Bank of America and other banks accused of manipulating the pricing benchmark for silver in London. Up-and-coming partner Agnès Dunogué is also recommended. Lyle Roberts, who handles litigation and regulatory enforcement actions, joined the Washington DC office from Cooley LLP.
Simpson Thacher & Bartlett LLP has 'a very experienced and knowledgeable team for securities class action defense'. The firm built on its extensive track record of success last year with victories that included the defeat of class certification in a case for UBS, a successful appeal for La Quinta Holdings in the Second Circuit Appeal to affirm the dismissal with prejudice of a securities class action, and the defeat of a motion for certiorari in the US Supreme Court on behalf of JP Morgan. The firm is also a prominent player in IPO-related litigation and is handling matters related to the $25bn IPO of Alibaba in 2014, which include an ongoing consolidated Exchange Act complaint. The firm successfully settled a related Securities Act lawsuit in California state court. Jonathan Youngwood and Paul Curnin in New York, and Palo Alto-based up-and-coming partner Stephen Blake were part of the team handling those cases. New York-based Joe McLaughlin, who handled a 10b5 class action for Perrigo, 'literally wrote the book - he knows the law, the precedents and how to apply them'.
Skadden, Arps, Slate, Meagher & Flom LLP
Skadden, Arps, Slate, Meagher & Flom LLP is 'among the firms that do the most work in the area of securities litigation', according to one source, and is frequently lead defense counsel in the some of the most challenging, high-stakes securities cases in the market. Key partner Jay Kasner in New York is a leading light in the market and one source remarks that among securities litigators he is 'at the top of the heap'. In a case of first impression and one of the largest underwriting cases in history, the firm secured a Second Circuit Court of Appeals decision vacating class certification sought by plaintiffs against Brazilian oil giant Petrobras; Kasner and Scott Musoff in New York were the key partners. Musoff also represented numerous Asia-based issuers in securities litigation last year, which included securing the dismissal of a class action against Chinese mobile and computer applications developer Cheetah Mobile, Inc, and the dismissal with prejudice of a case against Weibo Corporation, in which plaintiffs alleged the company misled investors about compliance matters. Susan Saltzstein is also recommended.
Weil, Gotshal & Manges LLP in New York is praised by one client for the 'unrivaled success and experience and the creative and sophisticated approach it brings to litigating in this area'. The firm has an impressive client roster of publicly traded corporations, financial institutions and private equity firms. Practice heads Joseph Allerhand and John Neuwirth and key partners Joshua Amsel and Evert Christensen are described by one client as 'best-in-class professionals in this space'. Neuworth and Amsel represented pharmaceutical company Sanofi in connection with federal class and individual securities actions arising from statements regarding the results of Phase 3 clinical trials for multiple sclerosis drug Lemtrada. They secured the dismissal of all claims. 'Amazing advocate' Jonathan Polkes and up-and-coming partner Caroline Zalka (who is 'knowledgeable and smart, and always on top of her cases') are highly recommended. Allerhand and Stacy Nettleton acted for Signet Jewelers in a consolidated securities class action that alleged a five-year securities fraud concerning Signet’s in-house credit program.
Cleary Gottlieb Steen & Hamilton had a prominent role in some of the most high-profile matters in the market last year, which included its representation of Petrobras in the largest securities litigation ever brought against a non-US company. Roger Cooper, who is co-head of the practice with Meredith Kotler, and a team that included up-and-coming partner Jared Gerber acted for the company in matters that, at one point, included a class action and more than 35 separate individual opt-out actions brought by more than 400 investors in Petrobras American depositary shares and bonds; a favorable settlement in the class action was affirmed last year, while other matters are at the appeal stage. Cooper and Gerber also acted for Sky Solar Holdings in a class action in New York alleging that the company made misstatements and omissions concerning its internal controls, the experience and qualifications of its former CEO, and its business prospects. Lewis Liman, who was involved in the Petrobras case, is also recommended.
Debevoise & Plimpton LLP in New York has 51 partners involved in securities litigation and enforcement matters, who collectively have deep and broad experience in federal securities class action litigation, multi-jurisdictional and multidisciplinary matters involving overlapping civil litigation, federal and state enforcement actions and related legislative inquiries. Mary Jo White, who was formerly chair of the SEC, and Andrew Ceresney, a former director of enforcement at the SEC, ensure the firm has a high-calibre regulatory enforcement practice. Mary Beth Hogan and Maeve O’Connor are among the partners who ensure the litigation side of the practice is also of high quality. O'Connor is currently representing MetLife, Inc and certain officers and directors in connection with a putative shareholder class action pending in New York that challenges the company's practices in regard to payment of death benefits and escheatment of unclaimed death benefits. While most claims have been dismissed, one Section 11 matter remains pending. Shannon Selden, who is representing private equity firm Clayton, Dubilier & Rice in a putative derivative suit, is also recommended.
Dechert LLP has securities litigators in offices across the US and frequently handles class actions, shareholder derivative suits, mutual fund litigation, broker-dealer disputes and regulatory enforcement proceedings. The 'very likable' David Kistenbroker, who practices in both New York and Chicago, is global co-chair of the trial, investigations and securities group. He acted for Anavex Life Sciences Corporation and its officers in a 10b5 case that alleged false and misleading statements were made about the efficacy of the company’s experimental Alzheimer’s drug; Joni Jacobsen in Chicago also played a key role in that case. The same team also acted for Antares Pharma Inc in several cases, including a suit alleging that the company provided insufficient information to the FDA in support of Xyosted and overstated its approval prospects. In New York, firm chairman Andrew Levander, who handled a 33 Act claim for CHC Group, and global litigation head Matthew Larrabee are recommended, as is Michael Kichline in Philadelphia.
Clients praise the 'insight and practical business sense' of the litigators in the New York, Chicago and Washington DC offices of Dentons, which climbs the ranking. The firm acts for issuers, investment advisers, broker-dealers, insurance companies and financial institutions in stock-drop cases. Through its global network of offices, it is frequently involved in cross-border securities cases and regulatory enforcement matters. Sandra Hauser and 'strategic thinker' Reid Ashinoff are the key partners in New York. Hauser represented Canadian Imperial Bank of Commerce in an alleged rate-fixing class action. Stephen Senderowitz in Chicago, who co-chairs the global financial markets litigation and regulatory group, played a role in that case and also led a case of first impression for Monex in defense of CFTC regulatory investigations. Ashinoff's highlights included achieving a favorable settlement in a class action against Genworth arising from the company's IPO. Ken Pfaehler in DC is also recommended.
Fried, Frank, Harris, Shriver & Jacobson LLP
Fried, Frank, Harris, Shriver & Jacobson LLP has a busy securities litigation practice in New York and Washington DC, and last year it handled litigation matters for some of the firm's largest corporate clients, including UnderArmour, Perrigo and Xerox. For UnderArmour, James Wareham in DC and Samuel Groner in New York secured the dismissal of a consolidated class action in which it was claimed that its officers made material misstatements regarding the company’s performance and future prospects, including allegations that it had failed to report declining consumer demand for its products. For pharmaceuticals company Perrigo, Wareham and DC-based James Anklam defended a 10b5 class action in which plaintiffs allege that the company's stock price fell due to, inter alia, overstatement of organic growth in the company and failure to disclose problems with the integration of Omega Pharma Invest. Other recommended partners in New York include Stephen Juris, Israel David and Scott Luftglass.
Litigation powerhouse Jones Day has a team of more than 100 securities litigators across the US, which has a strong track record in SEC investigations and high-profile litigation for financial institutions, corporations and individuals. It is 'one of the top firms in terms of scale and the quality of client service', according to one source. Scott Fletcher in Houston and Henry Klehm in New York lead the practice. Fletcher secured a favorable settlement for Amedisys in a securities fraud class action arising from a press article that suggested the company might be taking advantage of the Medicare reimbursement system, which led to investigations by the DOJ and SEC. Among the other standout lawyers in the practice are 25-year veteran Robert Micheletto in New York; Walt Davis in Atlanta, who successfully defended HD Supply Holdings in a putative class action; Geoffrey Ritts in Cleveland, who achieved the dismissal of a class action alleging breach of fiduciary duties on behalf of insurer Erie Indemnity; Joan McKown in Washington DC; and Dallas-based Mark Rasmussen.
Kirkland & Ellis LLP has a track record of success in securities class actions, shareholder derivative litigation, structured finance cases, and investigations and enforcement actions by the DOJ, SEC and other regulators. It also has one of the leading accounting liability practices. Mark Filip in Chicago leads the 50-partner securities and shareholder litigation practice. He recently acted for Caterpillar, Inc in numerous cases, which included In re Caterpillar Inc Securities Litigation, a putative class action alleging that the company made misleading statements about its compliance and business policies; the case was ultimately dismissed. Sandra Goldstein in New York is one the market's leading lights and she was part of a team that represented Mylan in a securities case relating to the company’s classification of the EpiPen under the Medicaid Drug Rebate Program. Matthew Solum and Yosef Riemer, both based in New York, acted for Bristol-Myers Squibb in three derivative actions arising from a settlement with the SEC for alleged FCPA violations. Chicago-based Joshua Rabinovitz is also recommended.
Milbank has a deep bench of securities litigators in New York and climbs the ranking this year. The firm has a stellar roster of financial services clients and it is regarded as a leading firm for investment advisers and mutual funds. Firm chair Scott Edelman, litigation and arbitration group leader Daniel Perry and global head of litigation and arbitration George Canellos are the key names in the practice, along with highly-rated litigator Sean Murphy. Canellos is highly recommended for enforcement matters and his recent work includes acting for the founder of Canyon Bridge Capital Partners in connection with a federal government investigation of trading activity in the securities of Lattice Semiconductor Corp. Katherine Goldstein is also recommended for enforcement matters. Murphy, Robert Hora and James Cavoli acted for insurer AXA in a $1bn excessive-fees case. Edelman and Perry successfully defended a securities fraud class action for the former CEO and CIO of Embraer SA.
Morgan, Lewis & Bockius LLP
Morgan, Lewis & Bockius LLP has 'a deep team with top-notch lawyers who understand the client exceptionally well'. Clients also praise the practice for its 'good leadership and client counseling, which includes telling the client what they need to hear, not just what they want to hear'. The firm defends public and private companies, financial institutions, underwriters, and officers and directors in federal and state courts, and frequently handles regulatory enforcement matters for broker-dealers, investment managers and funds. Jordan Hershman and Timothy Burke lead the securities enforcement and litigation practice from Boston, along with Susan Resley in San Francisco. 'All exercise sound judgment and are very good at handling complex cases with many moving parts', says one client. Charlene Shimada in San Francisco represented the underwriter defendants in In re Avalanche Biotechnologies, Inc. Securities Litigation. Also recommended are Marc Sonnenfeld in Philadelphia, Jason Frank and Michael Blanchard in Boston, and Mary Gail Gearns and Kenneth Schacter in New York.
O'Melveny & Myers LLP climbs the ranking this year, having continued to build on its its strong record of defending companies and their officers and directors in industries such as energy, retail, technology, healthcare and life sciences, media and entertainment, and financial services. The practice has more than 50 securities litigators on both coasts of the US and is led by Jonathan Rosenberg from New York. He recently acted for Apollo Global Management in a New York Supreme Court case brought by Harbinger hedge funds seeking $1.9bn in damages and alleging failure to disclose problems with WiFi technology developed by subsidiary SkyTerra. Pamela Miller, who handled several Ponzi scheme cases, and Allen Burton are also recommended in New York. The firm frequently handles cases involving foreign issuers and Los Angeles-based Seth Aronson successfully defended China Agritech in three class actions, twice defeating class certification. Matthew Close in LA, who frequently defends underwriter syndicates, is also recommended.
Orrick, Herrington & Sutcliffe LLP
Orrick, Herrington & Sutcliffe LLP has a national reach and, since the arrival of the entire team from Morvillo Law, it has become much more prominent in Washington DC. Kenneth Herzinger leads the white-collar, investigations, securities litigation and compliance group from San Francisco. In the same office, James Kramer is a senior partner in the team and alongside rising star senior associate Alex Talarides acted for PayPal Holdings in securing the dismissal of a proposed shareholder derivative action stemming from a Federal Trade Commission investigation. For the same client, they are currently handling a putative shareholder class action resulting from a data breach at subsidiary TIO Networks Corp. Robert Stern and Richard Morvillo in DC are representing TD Ameritrade in actions alleging violations of the Commodities Exchange Act and state common law, arising from losses suffered by traders in futures and options in early 2018. In Los Angeles, key partner Michael Tu continues to represent Sumner Redstone in a series of high-profile securities litigation matters regarding the governance of Viacom Inc and CBS Corporation.
Ropes & Gray LLP climbs the ranking due to the growing workload of its 57-partner securities litigation team, which operates from Boston, New York, Chicago, San Francisco and Washington DC. It is 'one of the leading firms for 10b5 cases in the life sciences sector, and for mutual fund '40 Act cases', according to one source, and 'acting for demanding hedge fund clients is the firm's bread and butter'. David Hennes in New York and Peter Welsh in Boston lead the practice. Hennes and Boston-based John Donovan secured the dismissal with prejudice of a federal securities class action brought against underwriters including Goldman Sachs arising from the $450m IPO of Acacia Communications. Welsh is acting for hedge fund Elliott Management in matters arising from Energy Future Holdings’ bankruptcy. In the life sciences sector, Boston-based Randall Bodner acted for Genocea Biosciences in a series of stock-drop cases. With up-and-coming partner Anne Johnson Palmer in San Francisco, Bodner secured the dismissal of a $2bn class action against beverage company Keurig Green Mountain.
Williams & Connolly LLP in Washington DC is a specialist litigation firm that 'works at the top level and many of its partners are involved in securities litigation'. Last year, it handled matters across the US, including cases in California, Texas, Minnesota and New York. One standout matter saw the firm successfully represent Digital Realty in a Supreme Court appeal against a decision by the Ninth Circuit relating to a whistleblower's allegations of securities law violations. Robert Van Kirk, who co-leads the securities litigation and enforcement practice with Steven Farina, successfully defended The Carlyle Group and its founder Bill Conway in a $2bn action following a six-month trial in the Royal Court of Guernsey. R. Hackney Wiegmann also played a key role in that case. Farina and Joseph Petrosinelli succeeded in narrowing the plaintiffs’ class at the class-certification stage in a case for Medtronic plc, which had seen a motion to dismiss reversed in a putative class action. Up-and-coming partner John Williams is also recommended. Kannon Shanmugam, who led the Digital Realty matter, joined Paul, Weiss, Rifkind, Wharton & Garrison LLP in Washington DC in January 2019.
Willkie Farr & Gallagher LLP in New York 'has for decades tried and litigated complex, high-stakes securities matters and the lawyers are all top-notch, which is why they get many of the headline cases and help companies navigate to successful results', remarks a client. Chair of litigation Tariq Mundiya is 'an awesome attorney who comes up with innovative strategies to obtain the best possible results - he is not just book-smart, but also a master strategic thinker who exercises top-notch judgment'. He recently acted for Xerox Corporation in a $1bn derivative suit. Practice vice-chairs Todd Cosenza and Antonio Yanez scored a major victory for Lehman Brothers Holding when an $11.4bn claim brought by RMBS trustees was settled for $2.38bn. Yanez is currently handling matters arising from Puerto Rico's municipal bankruptcy for Bettina Whyte, the appointed agent for the Puerto Rico Sales Tax Financing Corporation. Securities litigation group chair Michael Young and, in Washington DC, senior counsel Richard Bernstein are also recommended.
WilmerHale has 'very deep expertise in securities law matters and practices before the SEC with practical application', says a client of its regulatory enforcement practice, while in securities litigation the firm has 'excellent experience and an excellent track record'. The firm has a stellar track record in litigation arising from SEC investigations and in FINRA arbitrations. Harry Weiss, who chairs the securities litigation and enforcement group from Washington DC, and New York-based Lori Martin are 'outstanding', according to one client, who notes that they provide 'excellent advice and guidance'. Martin is a leading lawyer for '40 Act matters and she recently handled a case for mutual fund investment adviser First Eagle Asset Management. Michael Bongiorno in New York has an excellent record of trial victories and dismissals for life sciences companies. With Fraser Hunter, he is currently handling In re HeartWare International, Inc. Securities Litigation. Also recommended are Andrea Robinson and Tim Perla in Boston, and Matthew Martens in DC.
Arnold & Porter has a nationwide team that handles high-stakes class actions and derivative actions, as well as regulatory investigations. The practice is led by Veronica Callahan in New York and Michael Trager in Washington DC. Trager recently acted for a special committee of the board of a Nasdaq-listed automotive company in several investigations that arose from whistleblower claims. Callahan is currently handling a high-value SEC investigation for a national accounting firm. For the same client, Callahan and DC-based Daniel Hawke are handling investigations by the PCAOB and the SEC into auditor independence-related issues. In New York, Vincent Sama, who is 'a very prominent lawyer in this space', and Daphne Morduchowitz continued to act for current and former officers of JP Morgan and Standard & Poor’s in investigations by state and federal government agencies. Scott Schreiber and counsel Adam Reinhart in DC and Gilbert Serota in San Francisco are also recommended.
The practice at Baker Botts L.L.P., which climbs the ranking this year, operates out of its Houston, Dallas and New York offices, and clients remark that it is 'focused, professional and results-oriented'. Danny David, who is 'articulate, thoughtful, resourceful and determined, achieving great results', leads the practice from Houston. 'He is first class in every way', remarks a client. The firm has roles in some of the largest, most complex and closely watched securities class actions, and has an outstanding track record in securities enforcement actions brought by the SEC, DOJ and FINRA. Its recent work for industrial, energy, pharmaceutical and technology companies includes a 10b5 case for Chicago Bridge & Iron that alleges false and misleading statements regarding the status of contracts to complete construction of nuclear power plants. David Sterling in Houston is the key partner in that matter. Also recommended are Houston-based Rebeca Huddle and Dallas-based Jessica Pulliam.
'It has a team of litigators as good as any other in securities litigation', remarks a client of Cadwalader, Wickersham & Taft LLP in New York. The practice is known for 'great communication and coordination, as well as efficient staffing and resourcing'. Chair of the firm's global litigation group Jason Halper provides 'steady, practical and experienced guidance on strategy and outlook; he is unflappable and has great judgment'. He acted for Janus Index & Calculation Services LLC in two class actions alleging false and misleading statements in the valuation of its exchange-traded notes. Nathan Bull is recommended as 'a young star who is a master of details, can write beautifully and has a genial presence that impresses while also putting one at ease'. Kyle DeYoung in Washington DC and New York-based special counsels Gillian Burns and Jared Stanisci are recommended for 'consistent, strong, thoughtful and timely work product'. Jonathan Watkins in Charlotte is also recommended.
In New York, Cohen & Gresser LLP is a smaller firm that punches above its weight in securities litigation and one clients remarks that it is 'fully on a par with, if not better than, its opponents in other firms'. Mark Cohen and Lawrence Gresser lead the practice, in which the partners are 'true litigators, focused and thoughtful - no stone is left unturned'. Together with S Gale Dick, they secured the dismissal of claims against a UK-based former analyst in Och-Ziff Capital Management’s European subsidiary in an SEC matter alleging FCPA and Investment Advisers Act violations. Gresser and Stephen Sinaiko (of whom clients remark that 'he is an expert who is fully committed to, and engaged in, cases and deals with all the issues promptly; he is clever and extremely responsive - a good man to have on your side') represented Airplanes Limited and Airplanes US Trust matters relating to contingent liabilities. C Evan Stewart, Nathaniel Read and Daniel Tabak are also recommended.
DLA Piper LLP (US)
DLA Piper LLP (US) has 'great lawyers who are very strong communicators and have excellent drafting skills'. John Clarke in New York 'consistently provides excellent service and is very responsive to client needs'. Clarke co-chairs the corporate and securities litigation practice with James Mathias in Baltimore. San Diego-based Shirli Fabbri Weiss secured the dismissal of class certification in In re Finisar Corp Sec. Litig., which related to the impact of analyst reports on stock prices. On the SEC enforcement side, the firm has specialists in offices across the US, including Deborah Meshulam in Washington DC and John Hillebrecht in New York. Hillebrecht also led major cases, including three related securities and shareholder class actions in state and federal court for food company Hain Celestial Group, all arising from allegations of a fraudulent channel stuffing scheme. Caryn Schechtman obtained summary judgment on SEC claims against Yorkville Advisors, which alleged fraudulent misrepresentation of the value of hedge fund investments.
Clients praise the practice at Goodwin for its 'depth of knowledge in the securities litigation field, outstanding written work product, and excellent oral advocacy'. The firm climbs the ranking this year having won impressive dismissals in cases against pharmaceutical and medical device companies, including for Foundation Medicine and PTC Therapeutics. The key partners in those cases were Boston-based Deborah Birnbach (who is 'a truly excellent advocate who knows securities litigation backwards and forwards') and Caroline Bullerjahn, who is 'truly a pleasure to work with'. Mark Holland in New York and Michael Isenman in Washington DC scored precedent-setting wins for JP Morgan Investment Management in long-running excessive fees litigation. In New York, Marshall Fishman, who led market manipulation matters for Wall Street banks, and Brian Pastuszenski, who acted for underwriters in matters arising from NovoCure's IPO, are also recommended. Douglas Flaum joined the firm in 2019 from Paul Hastings LLP.
Greenberg Traurig, LLP is 'a great firm' that has more than 70 attorneys in its securities litigation practice, including former federal and state prosecutors and former SEC, FINRA, and state regulatory attorneys. It has a truly national practice, with key partners located on both the east and west coasts. In West Palm Beach, Bradford Kaufman and Tracy Gerber are the key names. Kaufman and Joseph Coates III acted for Barclays’ former chairman of investment banking for the Middle East, Roger Jenkins, in a case arising from charges brought by the UK's Serious Fraud Office. Robert Horowitz, who represented online gaming company The Stars Group in a putative class action, and William Briendel are the key partners in New York. In Los Angeles, Daniel Tyukody handled Zamir Bridgepoint Education Inc et al, in which plaintiffs alleged accounting manipulation. In Dallas, Karl Dial is 'very insightful, experienced and focused, as well as tenacious, supportive and exceptionally persuasive in written and oral arguments; his style is both confidence-building and disarming at the same time'. David Coulson in Miami is also recommended.
Katten has a team that is 'extremely responsive and just as knowledgeable'. 'Hands down my number one choice', remarks a client, who praises the firm's 'very pragmatic lawyers who understand business concerns, not just legal ones'. Bruce Vanyo leads the practice from Los Angeles and has 'a well-earned reputation as the godfather of securities litigation defense; his track record backs it up and he is unparalleled in his knowledge'. Among the firm's 'extremely smart attorneys with strong intuition and a strategic mindset' are Chicago-based Michael Diver, LA-based Richard Zelichov ('exceptional, very bright') and Christina Costley and, in New York, Jason Vigna. A highlight for the team was its work in securing the dismissal of four securities class actions consolidated in California on behalf of Natera, in which plaintiffs alleged that the company's IPO offering documents were false and misleading.
'The securities defense attorneys at this firm are substantially thorough, experienced, ethical and prompt', says a client of King & Spalding LLP, which climbs the ranking this year. 'They have substantial experience with the federal district court judges, where the securities class actions are filed and substantial and significant experience with the mediators who are often proposed by the plaintiffs', notes another. Michael Smith and Jessica Corley in Atlanta, and Paul Bessette and Mike Biles in Austin are all described as 'extremely experienced in securities class actions and 100% ethical'. Smith and Warren Pope are currently representing Equifax Inc in a putative class action consolidated in Georgia arising from a large-scale cybersecurity incident announced in 2017, which challenges public statements about the company made about efforts to protect consumer information and compliance with data protection laws. Pope also secured the dismissal of a $400m claim against Aaron’s, Inc following a 30% fall in its stock price. Israel Dahan in New York is also recommended.
Kramer Levin Naftalis & Frankel LLP
At Kramer Levin Naftalis & Frankel LLP in New York, which climbs the ranking this year, John Coffey is regarded as 'a leader and a trusted adviser, given his long experience in this area' and one client notes that experienced trial lawyer Kerri Ann Law is 'a very reliable deputy'. Coffey was called in by another leading defense firm to help settle a multibillion-dollar securities class action for Pershing Square Capital Management and activist investor William Ackman arising from the unsuccessful attempt by Pershing Square and Valeant Pharmaceuticals to acquire Allergan. He has also represented Ocwen Financial for many years, and played a key role in securing the dismissal of a securities class action arising from regulatory proceedings brought by the Consumer Financial Protection Bureau. Jonathan Wagner, who played a role in the Ocwen case, Gary Naftalis, who handled the review of a federal criminal investigation and parallel SEC investigation for an investment bank, and Michael Dell are also recommended.
Mayer Brown has 'a very strong practice across the board' and one client remarks that 'its litigation practice is first rate but reasonable in terms of cost'. The firm combines compliance, investigation, enforcement, litigation and appellate capabilities, and is frequently called upon by leading financial institutions. Joseph De Simone in New York and, in Washington DC, Richard Rosenfeld and Matthew Rossi are the lead partners. In New York, Matthew Ingber and Christopher Houpt acted for Bank of New York Mellon in litigation relating to its role as trustee of residential mortgage-backed securities, in which issues around the distribution of the $8.5bn settlement remain to be resolved. De Simone, Ingber and Richard Spehr handled securities and derivative actions for Frontier Communications that allege improprieties by its directors and officers. Steven Wolowitz, who handled high-stakes class actions for Société Générale, including In Re Libor-Based Financial Instruments Antitrust Litigation and Sonterra v UBS AG, et al, is also recommended.
Morrison & Foerster LLP
At Morrison & Foerster LLP, which has busy teams in both California and New York, 'the securities defense attorneys are substantially thorough, experienced, ethical and prompt', according to one client. Another points out that the 'outstanding, brilliant' Joel Haims and other New York practitioners are 'so knowledgeable that they can anticipate the upcoming issues that will arise'. Haims, Jordan Eth in San Francisco and Dimitria Doufekias in Washington DC are the co-chairs of the securities litigation, enforcement and white-collar defense group. Haims and Jamie Levitt represented online crafts marketplace Etsy, Inc in a class action alleging that the company knowingly concealed information that certain products might be counterfeit or infringe intellectual property, triggering a stock drop after its IPO. Haims and James Beha successfully represented the former CEO and CFO of Nortel Networks in a securities class action filed after the company's bankruptcy.
Paul Hastings LLP has a robust securities litigation practice on both the east and west coasts, and has experienced practitioners in key cities such as Washington DC, Houston and Chicago. The firm's client base includes leading investment banks such as Barclays, JP Morgan and Goldman Sachs, for which it handles cases involving complex financial instruments and regulatory matters. Samsung and Dole Foods are among its many blue-chip corporate clients. Peter Stone in Palo Alto leads the securities litigation practice. Flaum represented the underwriters of ReWalk Robotics’ IPO in obtaining the dismissal of cases concerning the adequacy of its offering documents. New York-based global chair of litigation Barry Sher secured the dismissal of a class action against FIM Advisors that arose from Bernie Madoff's Ponzi scheme. Wiliam Sullivan in Los Angeles is also recommended. Douglas Flaum in New York joined Goodwin in 2019.
Proskauer Rose LLP has a busy practice that acts for brokerage firms, domestic and foreign investment banks, investment advisers, hedge funds, private investment funds and securities issuers. Ann Ashton in Washington DC leads the practice and, with veteran litigator Ralph Ferrara, she advised the Financial Oversight and Management Board of Puerto Rico in matters arising from its $74bn in bond debt. These included defeating a petition for certiorari in the United States Supreme Court filed by Vitol, and defeating a motion for a preliminary injunction filed by Peaje. New York-based Jonathan Richman and Gregg Mashberg also played roles in those cases. The firm provides 'a good combination of defense and regulatory lawyers, with a one-two combo of former SEC insiders who understand the mechanics of the regulations'. The hire of Samuel Waldon from the SEC, who is recommended for 'candid, straightforward advice and in-depth knowledge of the inner workings of regulators', is testament to the firm's ongoing investment in this practice area. 'The team excels in all phases of class litigation', remarks a client.
Vinson & Elkins LLP
Vinson & Elkins LLP frequently represents issuers, underwriters, accounting firms, financial institutions, and directors and officers in securities fraud class actions, and it climbs the ranking this year. John Wander, who is co-head of the firm's complex commercial litigation practice, and Michael Holmes in Dallas are the two key partners. Holmes and Austin-based Jennifer Poppe defended EZCORP in a 10b5 class action in New York that alleged false and misleading statements or omissions regarding, inter alia, regulatory compliance issues with Cash Genie, in which the company owns a controlling interest. The claim was settled favorably. Holmes and San Francisco-based Michael Charlson secured a significant victory for Plains All American Pipeline by securing the dismissal of a class action seeking $1.5bn in damages for stock losses allegedly caused by a pipeline leak in California. Clifford Thau in New York is also recommended.
Wachtell, Lipton, Rosen & Katz in New York has highly experienced practitioners in the litigation practice led by co-chairs William Savitt and Jonathan Moses. Savitt and Ryan McLeod represented outside directors and the board of Facebook in a putative class action challenging the proposed reclassification of common stock. Other highlights for the firm included acting for individual defendants in a complex multi-district litigation against TerraForm Global filed in the wake of an historic downturn in energy markets and the bankruptcy of TerraForm’s corporate parent, SunEdison. The firm also represented individual defendants in In re Cnova Securities Litigation, a federal securities class action arising from an accounting restatement following the company’s 2014 IPO. Elaine Golin, John Savarese, Carrie Reilly and Bradley Wilson are among the other recommended partners.
Winston & Strawn LLP
Winston & Strawn LLP scored a string of significant victories and achieved settlement in landmark cases last year. The firm acted for Omnicare in a class action in the Supreme Court, which ruled in favor of the defendant in one of the most important ‘33 Act decisions of recent years. The case overturned the Sixth Circuit's judgment that a claim based solely on a statement of opinion need only allege that the opinion turned out to be wrong. John Schreiber in Los Angeles, and, in New York, James Smith and Richard Reinthaler were the key partners involved. Practice head Smith is described by clients as 'an exceptionally good lawyer - highly attentive to both the details and the big picture strategy'. The practice is noted for its 'ability to adapt to changing strategy as needed'. Reinthaler is currently representing Macquarie Infrastructure Corporation in two 10b5 cases arising from its the announcement of its 2017 financial results and dividend guidance for 2018. Robert Sperling in Chicago and Matthew DiRisio in New York are among the firm's talented partners.
Allen & Overy LLP
Allen & Overy LLP in New York climbs the ranking this year having been involved in a growing number of large, high-profile cases. Jacob Pultman leads the practice, which benefited from the return of Andrew Rhys Davies, who spent two years as Assistant Solicitor General for the State of New York, representing the state and its agencies in appellate litigation, and now focuses on regulatory, securities and financial services disputes. Rhys Davies and key partner Pamela Chepiga acted for Deutsche Bank in matters in the New York State Supreme Court brought by Galopy Corporation International, a Curacao-based holding company owned by a Venezuelan business magnate, which alleges fraud in relation to collateral payments. Todd Fishman, who represented a European bank in a cross-border investigation by Dutch criminal authorities and the SEC, is also recommended.
Baker & Hostetler LLP
Baker & Hostetler LLP has a team of experienced securities litigators and former SEC and DOJ trial lawyers, and it climbs the rankings thanks to its growing team and increasingly high-profile docket of cases. Douglas Greene, who works between the Seattle and New York offices, joined from Lane Powell PC to lead the firm's securities and governance litigation practice. Clients describe him as 'an exceptional attorney who is very responsive and friendly and achieves fantastic results very efficiently'. Another adds that 'he combines a deep knowledge of securities laws with a mindfulness of the business issues'. Greene defended Cemtrex Inc in a securities class action and three shareholder derivative lawsuits in which allegations included failure to disclose insider stock transactions. Also recommended are Marc Powers and John Carney in New York and Jonathan Barr in Washington DC.
Clifford Chance in New York has 'a strong securities litigation practice and is distinct from other New York firms in that it has a broad international platform; it is a regular player in financial institution securities litigation matters'. Practice head Robert Houck is 'a standout practitioner', according to one client, who describes him as 'thoughtful and creative in his representations, and well regarded by his peers'. The firm has 17 US litigation partners and securities litigation for global financial institutions and US companies is a substantial part of their work. Houck represented ICBC Standard Bank in a class action concerning alleged manipulation of platinum and palladium benchmarks in London. Christopher Morvillo, who handled investigations by UK and US regulators for the founder of Autonomy, is recommended, as are Jeff Butler and rising star senior associate Benjamin Berringer.
Cooley LLP climbs the ranking the ranking this year and is praised as 'a key player in technology and life sciences, and it has invested to stand out among California firms'. In volume alone, the firm is one of the most active in the defense of issuers in shareholder litigation, and no firm has defended more life sciences companies during the last five years. Koji Fukumura in San Diego leads the securities litigation practice and he secured the dismissal of a class action against Celladon, in which investors alleged they were misled about clinical trials for the company's leading drug candidate Mydicar. In Palo Alto, Jessica Valenzuela Santamaria and John Dwyer obtained a victory for Orexigen in a derivative lawsuit arising from the termination of a clinical trial. Patrick Gibbs in Palo Alto, Luke Cadigan in Boston, Eric Kuwana in Washington DC, who joined from Katten Muchin Rosenman LLP, and Stephen Neal in San Francisco are also recommended.
Fenwick & West LLP provides 'thoughtful and practical advice on all aspects of disputes - from the first moment of the claim through settlement - and clients always have access to the most senior lawyers to walk them through their strategy'. The firm is regularly engaged by leading technology companies to handle bet-the-company cases. Securities litigation chair Kevin Muck and securities enforcement co-chairs Susan Muck and Michael Dicke are the key contacts in San Francisco, and clients note that 'all three are very hands-on and experienced, and able to make a very tough circumstance more tolerable'. Susan Muck acted for Sunrun Inc in parallel state and federal securities class actions alleging that the company’s registration statement for its IPO misrepresented and omitted material facts. Jennifer Bretan and Catherine Kevane are also recommended.
Hughes Hubbard & Reed LLP has been a prominent player in securities litigation for more than 40 years and has a reputation for defending public and private companies, registered securities broker-dealers, investors, directors and officers, underwriters and other professionals. It has a deep knowledge of the accounting sector and has handled enforcement, litigation and/or investigations for all of the Big Four. William Maguire and Edward Little in New York and Washington DC-based Kevin Abikoff lead the practice. Among the partners recommended in New York are Sarah Cave, who defended the audit committee chair of a publicly traded fintech company against putative federal securities class action claims; and Neil Oxford, who assisted Maguire with the defense of a Lehman Brothers Inc trustee. In DC, William Stein represented the Federal Deposit Insurance Corporation in matters arising out of bank failures in the credit crisis.
Litigation boutique Morvillo Abramowitz Grand Iason & Anello P.C. in New York has a long history of acting in complex white-collar, securities enforcement and regulatory matters, as well as complex business disputes. Edward Spiro and Elkan Abramowitz played roles in one of the most high-profile cases of recent years, having represented the former CEO of Petrobras in a securities class action relating to an alleged bid-rigging and bribery scheme. Spiro and Lawrence Bader were involved in one of the key cases in the life sciences sector last year, having represented former officers and directors of pharmaceutical company Merck & Co in derivative litigation arising from an alleged delay in publishing disappointing clinical trial results. Also recommended are Robert Anello, who acted for an individual in Madoff-related litigation, and Judith Mogul.
Norton Rose Fulbright
Norton Rose Fulbright US LLP handles securities class actions, shareholder derivative suits and internal and government investigations for companies, boards of directors, board committees and senior executives in a range of industries. It has notable experience in SEC, DOJ and FINRA matters and Kevin Harnisch in Washington DC, who leads the SEC enforcement practice, is currently handling a high-stakes matter that will examine whether spoofing and layering can be considered manipulative trading. Global head of litigation Gerard Pecht in Houston obtained the dismissal of a Section 11 IPO class action for a client.
Quinn Emanuel Urquhart & Sullivan, LLP
As a specialist litigation firm, Quinn Emanuel Urquhart & Sullivan, LLP 'offers a credible trial threat' in securities cases. Active on the plaintiff side, the firm also frequently defends shareholder class and derivative actions and regulatory enforcement actions. Harry Olivar in Los Angeles is among the firm's standout securities litigation partners and he represented Marvell Technology Group in class actions alleging false or misleading statements that resulted in more than $1bn in market losses. He achieved a successful settlement on a narrowed action. The firm also has a deep bench in New York, where Peter Calamari chairs the national banking and financial institutions practice. Andrew Rossman, who acted for First Reserve in a class action in Texas, and Jon Pickhardt, who co-chairs the structured finance litigation practice, are also recommended.
Richards Kibbe & Orbe LLP has 'a blue-chip group of experienced enforcement experts who understand the business and the risks', according to a client. The firm handles securities fraud cases and regulatory enforcement actions for hedge funds, investment banks, directors and officers and insurance companies. Rowan Gaither, Shari Brandt and Matthew Riccardi are among the key partners in New York and together they acted for ICAP Capital Markets in Alaska Electrical Pension Fund et al v Bank of America Corp et al, a federal class action arising from an alleged conspiracy to manipulate interest rate swaps pricing benchmark ISDAfix. Also recommended in New York is Daniel Zinman, who handled RMBS-related matters for Bank of America Merrill Lynch. In DC, Michael Mann is 'a real strategist who knows where the risks lie - a "go-to" guy for US securities law matters who provides wise, reasoned and robust counsel'.
Schulte Roth & Zabel LLP has securities litigators in its New York and Washington DC offices and is 'one of the leading firms in the representation of asset managers'. Michael Swartz in New York and Peter White in DC lead the practice. Swartz helped Trian Fund Management win a hard fought proxy contest with Procter & Gamble, which resulted in Trian's CEO being elected to the company's board. Douglas Koff in New York acted for the former CIO of Equifax in two separate criminal insider trading cases brought by the SEC and the US Attorney’s Office in the Northern District of Georgia, which alleged insider trading related to a massive data breach the company suffered in 2017. Among the other recommended partners are regulatory specialists Gary Stein and Martin Perschetz in New York and DC-based partner Howard Schiffman.
Seyfarth Shaw LLP
Seyfarth Shaw LLP defends clients in both securities litigation and SEC investigations, and climbs the ranking this year. Among those clients are investment banks and both large and mid-sized corporates in sectors such as technology, biotech, hospitality and financial services. Its deep bench of securities litigators works from Boston, New York, Washington DC and California. The firm recently hired Steven Paradise from Richards Kibbe & Orbe LLP to work alongside key partner Gregory Markel in New York. Markel and up-and-coming partner Giovanna Ferrari in San Francisco are representing individual officers of a bank in 10b5 class actions alleging that they made material misrepresentations and omissions concerning the prospects for a bankrupt e-commerce and t-commerce company. Also recommended are Boston-based partners William Prickett and Christopher Robertson.
White & Case LLP has securities litigation and regulatory enforcement capability in Los Angeles, New York, Chicago, Silicon Valley, Miami, Boston and Washington DC, and frequently handles domestic and cross-border matters. Commercial litigation chair Glenn Kurtz in New York leads the practice and, with Douglas Baumstein, he recently acted for a European technology company in a putative class action alleging the company released misleading financial information from a South American subsidiary. Baumstein also represented ReWalk Robotics in two putative class actions relating to the company's IPO. Also recommended in New York are Joshua Berman and Owen Pell, who together handled derivative actions for Aura Investments, and Kim Haviv. Bryan Merryman in Los Angeles and Washington DC-based Christopher Curran also play key roles in the practice.
Akin Gump Strauss Hauer & Feld LLP frequently represents financial institutions and public companies, including private investment funds, broker-dealers and accounting firms in investigations, enforcement proceedings and private litigation under the federal securities and commodities laws. Steven Baldini in New York leads the practice and, with Mitch Hurley, obtained a favorable settlement for private equity funds Kelso & Company and Pegasus Capital Advisors in a case in the New York Supreme Court. Also recommended are James Benjamin, who handled DOJ and SEC matters for broker-dealer Kal Bassily; Michael Asaro, who defended Avenue Capital in a securities class action; and Robert Pees.
Foley & Lardner LLP
Foley & Lardner LLP has a nationwide practice with lawyers in Washington DC, Florida, Illinois, Massachusetts, New York, Wisconsin and Texas. The practice, which handles large issuer liability and 10b5 cases and which regularly defends financial trading and clearing firms in securities matters, is led by Beth Boland in Boston. Boland represented a large investment bank in a class action claims founded on allegations of aiding and abetting a Ponzi scheme operated by one of its customers; one case was dismissed and another settled favorably for the defendant. Stephen Beddell and Thomas Krebs in Chicago and Bryan House in Milwaukee are also recommended.
At Hunton Andrews Kurth LLP, Edward Fuhr in Richmond leads a practice that has significant litigation capability in Texas, California, Florida and other key forums across the country. Fuhr represented Cleco Corporate Holdings in a putative shareholder class action pending in Louisiana. The firm's standout practitioners include Bradley Foster in Dallas and Mark Mandel in New York. Last year, Foster acted for insurance company Bowen, Miclette & Britt in a multibillion-dollar securities class action, and successfully settled matters for former officers of Tandy Brands Accessories brought by the company's bankruptcy trustee. The firm also has a highly capable practice that handles SEC, DOJ, FINRA and other regulatory matters.
Jenner & Block LLP
Jenner & Block LLP acts for both plaintiffs and defendants in securities enforcement and litigation, and its defense work encompasses acting for public and private companies, including hedge funds and foreign banks, in class actions, derivative shareholder litigation and tender offer matters. Stephen Ascher in New York, Thomas Newkirk in Washington DC and Howard Suskin in Chicago are the practice co-chairs. Suskin secured the dismissal with prejudice of a putative class action against Equus Total Return, and he saw a Third Circuit panel affirm the dismissal of a 1934 Act case against Hertz Global Holdings, which alleged the company made false and misleading statements about its financial results, internal controls and future earnings projections. Charles Riely, former assistant regional director of the SEC's Division of Enforcement, joined the New York office.
McGuireWoods LLP has built up its securities litigation and enforcement capabilities in recent years and joins the table on the strength of its work for large financial institutions. Its most recent hire is Emily Gordy in Washington DC from broker-dealer LPL Financial, whose previous experience includes managing enforcement operations at FINRA. In New York, Ghillaine Reid is a former SEC enforcement attorney and now serves as co-chair of the firm’s broker-dealer practice, and Noreen Kelly leads the firm’s financial institutions industry practice. Kelly recently acted for a leading bank in matters arising from the issuance of RMBS securities during the financial crisis.
The practice at Pillsbury Winthrop Shaw Pittman LLP is led from San Francisco by Sarah Good and Bruce Ericson, and it acts for a broad range of corporate clients including Fortune 100 businesses and small technology companies. It also handles securities cases for underwriters and auditors. Ericson secured a dismissal with prejudice in In re InvenSense, Inc Securities Litigation, in which plaintiffs alleged InvenSense made materially false and misleading statements regarding its business results. He also acted for venture capital investors in Fitbit, Inc in 1933 Act claims alleging that registration statements and prospectuses for Fitbit's IPO were false and misleading.
Stradling Yocca Carlson & Rauth
Stradling Yocca Carlson & Rauth is predominantly based in California, though it handles securities disputes and regulatory enforcement matters nationwide. It has specific expertise in matters regarding life sciences, private equity and public law, and clients note that it has 'tons of experience in high-profile matters, which it can do with a smaller team of high-quality lawyers'. Among these are John Cannon, Kathleen Marcus and Jason de Bretteville, all located in Newport Beach, who are 'very personable and hands-on partners who match up well with lawyers from bigger firms'. Clients describe Cannon, who acted for Clovis Oncoloy in a shareholder class action, as 'creative and solutions-driven, with exemplary technical aptitude'.
Thompson & Knight LLP
Thompson & Knight LLP has a respected securities litigation and enforcement practice that often acts for companies in the energy industry, though it handles cases in other business sectors from its offices in Houston and Dallas. 'The team was very helpful in dealing with my case when I was in Houston for the trial,' notes one client, who praises Kenneth Held as 'a really great professional lawyer'. He settled securities claims for the directors of an energy company. Also recommended is Michael Stockham in Dallas, who acted for United Development Funding in cases arising from allegations that the company's business model was a Ponzi-like investment scheme.
Vedder Price defends publicly traded companies, officers and directors, board committees and auditors in federal and state court securities actions and regulatory enforcement proceedings. Randall Lending, who is chair of the litigation practice, and Thomas Cimino, who chairs the financial services litigation practice, lead on securities matters from Chicago. Junaid Zubairi, who was formerly a senior attorney in the SEC's enforcement division, is the key partner for regulatory enforcement proceedings. Zubairi and Cimino are representing Power Solutions International in parallel SEC and DOJ investigations stemming from a restatement of the company's financial statements.